Fee-charging IFAs help boost Standard Life UK profits

UK pre-tax operating profits rose to £87m in the six months to June, up from £76m for the same period in 2010. "Our focus on those IFAs who are best placed to prosper in the new market environment we are entering, and developing solutions for both them and their clients, has allowed us to grow our intermediary market share without incurring the cost of commission on new business," the insurer said. Group-wide, Standard Life increased pre-tax profits by 44% to £262m in H1, up from £182m a year earlier. Assets under administration at the group reached the £200bn barrier. UK new busin...